Compugen (NASDAQ:CGEN) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Compugen Ltd. (NASDAQ:CGEN)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.21 and traded as high as $2.38. Compugen shares last traded at $2.37, with a volume of 154,774 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Lake Street Capital assumed coverage on shares of Compugen in a report on Tuesday, April 7th. They issued a “buy” rating and a $6.00 price target on the stock. Truist Financial raised shares of Compugen to a “strong-buy” rating in a research note on Wednesday, March 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Compugen in a report on Monday, April 20th. Wall Street Zen lowered shares of Compugen from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. Finally, Leerink Partners cut their target price on Compugen from $13.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Compugen has an average rating of “Moderate Buy” and a consensus target price of $5.00.

Compugen Price Performance

The stock has a 50 day simple moving average of $2.36 and a 200-day simple moving average of $2.21. The firm has a market cap of $224.08 million, a PE ratio of 6.41 and a beta of 2.76.

Compugen (NASDAQ:CGEN) last released its quarterly earnings data on Monday, May 18th. The biotechnology company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The business had revenue of $2.18 million for the quarter, compared to analysts’ expectations of $1.57 million. Compugen had a net margin of 47.97% and a return on equity of 47.72%. As a group, equities analysts predict that Compugen Ltd. will post -0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Compugen

A number of hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in Compugen by 12.1% during the first quarter. Renaissance Technologies LLC now owns 1,632,988 shares of the biotechnology company’s stock worth $3,478,000 after acquiring an additional 176,088 shares during the last quarter. State Street Corp lifted its stake in shares of Compugen by 3.9% in the 4th quarter. State Street Corp now owns 393,802 shares of the biotechnology company’s stock valued at $603,000 after purchasing an additional 14,701 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Compugen by 1,077.0% in the 2nd quarter. Jane Street Group LLC now owns 393,191 shares of the biotechnology company’s stock worth $700,000 after purchasing an additional 359,785 shares during the period. Two Sigma Investments LP boosted its holdings in shares of Compugen by 10.6% in the 3rd quarter. Two Sigma Investments LP now owns 197,875 shares of the biotechnology company’s stock worth $291,000 after purchasing an additional 18,929 shares during the period. Finally, Marshall Wace LLP increased its position in shares of Compugen by 135.7% during the 4th quarter. Marshall Wace LLP now owns 106,304 shares of the biotechnology company’s stock valued at $163,000 after purchasing an additional 61,202 shares during the last quarter. 12.22% of the stock is currently owned by hedge funds and other institutional investors.

Compugen Company Profile

Compugen Ltd. (NASDAQ: CGEN) is a clinical-stage therapeutic discovery company that leverages proprietary computational discovery platforms to identify novel immuno-oncology targets and biomarkers. The company combines large-scale biological datasets with machine learning algorithms to generate and validate new therapeutic and diagnostic candidates. Founded in 1993 and headquartered in Tel Aviv, Israel, Compugen also maintains a presence in the United States to support its clinical development and commercial collaborations.

Compugen’s predictive discovery engine scans complex biological systems in silico to reveal previously unrecognized pathways and immune checkpoints involved in cancer progression.